Lak Pituwa - News at your Fingertips in Sri Lanka

The Maldives will test the global market for Islamic finance in the coming weeks, as the debt-burdened archipelago nation hunts for a bailout that will prevent it becoming the first country to default on a key form of sharia-compliant debt. The price of a $500mn bond-like sukuk issued by the government has collapsed to about 70 cents on the dollar…